Rupee Vs Dollar: Forex Markets Closed For Buddha Purnima Holiday

International crude oil prices, which recently touched their highest levels since November 2014, also led to weakness in the rupee against the dollar.
Besides the forex (rupee vs dollar) market, the bond market is also closed on Monday. However, equity markets are open.
The benchmark 10-year bond yield fell to Rs 95.97 on Friday, yielding 7.77 per cent, from Rs 96.05 and a 7.76 per cent yield at the previous close.
Macroeconomic data points, coupled with fourth quarter (Q4) earning results, are expected to influence the Indian equity markets during the upcoming truncated week, say market observers. (Read more)
Macroeconomic data such as fiscal deficit, core sector (infrastructure), PMI manufacturing and services sector growth are due for release this week.
The US central bank's meeting along with the trajectory of global crude oil prices and the rupee's movement against the US dollar can trigger volatility this week in equity markets, they add.
Federal Reserve policymakers will meet on May 2-3 after raising rates in March and signalling at least two more 25 basis point increases were in the offing this year. Some economists expect three. The US central bank is unlikely to raise rates this time around, with moves considered likely only at the June, September and December meetings, which are followed by press conferences.
Global market sentiment will be based on the outcome of two-day FOMC meet.
Last week, foreign institutional investors (FIIs) sold scrips worth Rs 3,060.41 crore, while domestic institutional investors purchased stocks worth Rs 2,649.61 crore, provisional data from stock exchanges showed.
The stock markets will be closed on Tuesday for the Maharashtra Day holiday.